TECHNOCATION - Entrepreneurs go back to school, this time as teachers

December 6, 2001
By ELLEN WIGGINS,
Special to the Daily Record

When most people think of a college campus, they think of backpacks, books and other accoutrements of the 21-and-under crowd. Many people don't realize that successful businesspeople are bringing their experience and wisdom back to school as valuable resources for up-and-coming entrepreneurs.

Research universities are fertile ground for new business ideas. Faculty breakthroughs in the lab often have great potential but need a lot of help to navigate from academia to market. University research parks and technology incubators are home to start-up and emerging firms who need advice on everything from seeking venture capital to creating an effective marketing identity. Meanwhile, business ideas are becoming almost as popular as tiny refrigerators and tinier cell phones among incoming freshmen.

Maryland entrepreneurs have many organizations to turn to when they need business advice. Start-ups in our state get help from groups like the Maryland Technology Development Corporation (www.marylandtedco.org) and the Howard County Economic Development Authority's Business Resource Center, just to name a few.

But nothing beats good advice delivered in person from someone who knows what it takes to start, fund and grow a business. In that vein, two very successful Maryland entrepreneurs are going back to school to teach up-and-comers what it takes to make it.

Paul Silber, president and CEO of In Vitro Technologies, and Dan Roche, the new Venable Entrepreneur in Residence at the UMBC Technology Center, have lately become well-known not only for their business savvy but also for their willingness to share that knowledge with others.

Silber was already a visionary more than a decade ago when he worked as a scientist with Mary Kay Cosmetics. Seeing an opportunity in the coming controversy over animal testing, Silber realized there was a huge market for in vitro (in test tube) testing for the pharmaceutical, biotech and chemical industries. He was right. In just 11 years, In Vitro has grown from a classic bootstrap to a multimillion-dollar, global operation. Last year Silber launched his second company, StelSys LLC, this time with external equity financing.

This evening, Silber will be on campus again to teach would-be entrepreneurs what he's learned. “For me, successful entrepreneurship has required a combination of sound planning, a strong team, and the ability to deviate from our plan as better opportunities presented themselves.” Silber says.

Silber will emphasize tonight that techies who start companies can't afford to let business fundamentals slip. “It is just as important to focus on marketing, recruiting, training, organizational culture, customer service, and finance as it is to focus on technology. I have plenty of painful experience to speak from. Yet, so often I see early stage entrepreneurs with a technology background who spend so much time working on technology to the exclusion of everything else that they allow the business to fail.”

Silber doesn't think the current economic downturn should discourage would-be entrepreneurs. “I think it is always a great time to start a company, so long as it is the right company in the right market,” Silber says. “Interest rates are at historically low levels and there is an increased availability of skilled personnel due to recent layoffs - both of these are to the advantage of those starting a company. But then again, a strong entrepreneur with a great idea, a good team, and sufficient starting capital should have a good shot regardless of the external economic factors.”

Silber's presentation “Lessons Learned: Making the Successful Transition from Scientist to CEO,” sponsored by the Deutsche Banc Alex. Brown (DBAB) Center for Science and Technology Entrepreneurship, will take place from 5:30 to 6:30 p.m. tonight in UMBC's University Center Ballroom Lounge.

Just across campus is another mentor for Baltimore's new companies -- Dan Roche, the new Venable Entrepreneur in Residence at the UMBC Technology Center. Roche is always up for a new challenge, having already founded or been heavily involved with growing three technology companies before he turned 40 (and currently starting a fourth). As if that wasn't enough, he spent most of October on a climb to the summit of Mt. Kilimanjaro, Africa's highest peak.

Roche, who taught computer science at UMBC a decade ago, is now teaching again in both the classroom and the office. He is regularly available to help start-up and emerging technology companies at the UMBC Technology Center reach new heights. Roche is connecting promising companies like Accelics and Columbia Technologies with area venture capital resources, and is working with earlier-stage firms to focus their finances and enhance their market potential.

This spring semester, Roche will be working with undergrads who dream of starting companies as he teaches the Introduction to Entrepreneurship class through the DBAB Center. “I've always loved teaching, I just got too busy for it,” says Roche. “I love the interaction with students, the sharing of ideas and learning from them.”

Roche says entrepreneurship can't really be taught, but instead is an internal drive. “Entrepreneurs are self motivated to go out and make a lot of mistakes driving towards some vision,” he says. “My role is to help entrepreneurs trust their instincts and to share enough of my own experiences with the goal of minimizing the number of mistakes required to achieve their vision,” Roche says.

Maryland is one of the best locations for new and emerging businesses in the nation. Great business minds and entrepreneurial success stories like Dr. Paul Silber and Dan Roche who take the extra time to share their expertise with new companies only make it better. If you know an entrepreneur who is helping others reach their goals, we'd like to hear their story. Please let us know by sending email to technocation@umbc.edu.